COUNTER WATCH

• Uchumi Supermarket – Having closed the day at KES 19.25, the counter’s price took a slight dip in share price by 25 cents. Bearing in mind that the supermarket is looking to raise KES 1.5 billion in a share offer next year, a downward spiral in share price will mostly government’s acquisition of a larger stake. The government currently has a 13.4% stake and lower stock price would certainly result in a bigger uptake if the state has already set aside funds for share purchase.
• TPS Serena Eastern Africa – The share took a beating much like Uchumi for the stock price and closed at KES 38.25, a dip by 25 cents. Their start to December has been rough in terms of share price but may swing upwards as the year draws to a close. Tourism within this month peaks because of both local and foreign tourists. Money is spent at every instance and in all places, with hotels being the major gainers in this season. For the shareholders, it means increased profit and a chance to sell the shares when they eventually increase in price.

TOP TRADED COUNTERS

Safaricom is undoubtedly the most traded counter of the year, with a larger volume changing hands within this last quarter. It maintained the top spot with 17.56 million shares trading at KES 5.05. Right behind them was Kenya Power with 1.43 million shares. They finally announced the dividend pay which will see shareholders earn 10 cents per share held as of last Friday. In third place was KenGen. News of the CEO search seems to have sparked increased activity for the company (in terms of volume). 1.37 million Shares were traded for the day. In fourth place was another institution which will see a change in CEO. Kenya Commercial Bank saw just over 729,000 shares change ownership at KES 27.50, exactly 25 cents lower than Friday last week. Shareholders don’t seem to be taking the CEO change positively.